/biz/ - Business & Finance

>>	Anonymous Mon Feb 19 16:56:58 2018 No.7799211 [View] File: 150 KB, 1474x980, elliot waves.png [View same] [iqdb] [saucenao] [google] >>7798105 >>7798510 Speculation on my part, BTC can't rise forever.

Anonymous Mon Feb 19 16:07:58 2018 No.7797901 [View]
File: 150 KB, 1474x980, elliot waves.png [View same] [iqdb] [saucenao] [google]

This is quite speculative, but what does /biz/ think about this?

I think we're on the 5th line and I think we are headed for an ABC correction. You can see a clear rising wedge on this chart which suggests a trend reversal into a bearish market soon, and I think this reversal will come when we hit the high trend line from pre-20k (dark green), after which we'll do an ABC correction.

Dark green lines - High and low trend lines from pre-20k
Purple horizontal lines - Expected resistance lines
Descending red line - Downward trend line from 20k
Purple price range - Approximation of resistance, can't determine exactly but I'm pretty sure around that area will be it

Thoughts?

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